Markets recover from early losses; Nifty near 17,600

23 Feb 2023 , 01:58 AM

Indian Stock Markets are trading marginally higher in Thursday afternoon session, recovering from early morning losses. Markets remained volatile amid concerns over further interest rate hikes by the US Federal Reserve. 

Investor sentiments were negatively impacted by a combination of fresh foreign fund outflows and a mixed trend in the US market.

On the sectoral front, heavyweight Nifty FMCG gained nearly 1%. Nifty IT, Bank, and Metal also extended marginal gains.

At around 2.00 PM, BSE Sensex was trading 141 points higher at 59,886. Nifty NSE gained 0.20% at 17,589 points.

NSE announced that it had received final approval from market regulator SEBI to establish a Social Stock Exchange (SSE) as a separate segment on its platform.

ITC (+2.28%) was the top gainer. Axis Bank (+1.45%), Hindalco (+1.33%), ONGC (1.30%), and UPL (+1.27%) joined the rally with above 1% gains.

Asian Paints (-2.28%) emerged as top loser on the Nifty index. Adani Enterprises (-1.69%) shed about 2%. Titan (-1.47%), HDFC Life (-1.41%), and IndusInd bank (-1.19%) slipped over 1%.

A total of 26 stocks declined on the Nifty index, and 24 advanced.

Globally, as of 3:30 P.M Tokyo time, S&P 500 futures were up 0.5%. Hong Kong’s Hang Seng was down 0.4%. China’s Shanghai Composite fell 0.3%.

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